Dow To Slash Top Exec Bonuses | February 23, 2009 Issue - Vol. 87 Issue 8 | Chemical & Engineering News
Volume 87 Issue 8 | p. 23 | Concentrates
Issue Date: February 23, 2009

Dow To Slash Top Exec Bonuses

Department: Business

Dow Chemical CEO Andrew N. Liveris and top executives reporting directly to him will not receive cash performance bonuses for 2008. The move follows a dividend cut, a fourth-quarter loss of $574 million, and the delayed acquisition of Rohm and Haas. The company says the move is a "prudent and appropriate alignment with leadership accountability for overall results." Although the firm isn't disclosing how much the bonuses would have been, it awarded some $6.6 million in cash bonuses for executive officers in 2008. Other Dow employees will receive performance awards because the company met cost-cutting and other goals.

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